The biggest investment you will make in your life will probably be the purchase of a home. Before you close, you'll want to know that no individual or entity has a right, lien or claim to the property.
A title company ensures that your new home won't surprise you with expensive encumbrances and other legal obstacles.
You pay the title company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.
The title company performs an extensive search on the title history of the property. The title company can almost always identify any title problems that may arise and have these problems cleared-up prior to closing.
Real Estate law is extraordinarily complex. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. Your owner's policy will describe the property and outline the limitations on your ownership. It will also set forth the title insurance company's responsibilities should any claim covered by the policy terms arise. Title insurance usually covers:
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